Foreclosure Activity On The Rise

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ST. LOUIS (KMOX) – There is a sharp rise in foreclosure activity from December to January across the country and St. Louis is no different.

New numbers out from Realty Trac show an 8% up tick in foreclosure activity nation-wide from December to January.

Realty Trac Vice President Daren Blumquist says in St. Louis overall foreclosure activity was down except for scheduled foreclosure auctions.

“Those scheduled for foreclosure auctions in St. Louis were up 63% just from December to January and that’s an indication that there’s still a lot of distress in the market,” says Blumquist.

He says what probably happened is that banks were holding off on scheduling those auctions, giving people a chance to catch up on payments, but when the new year turned over, those people ran out of time.